INTRODUCTION

Millions of savers believe that inflation will benefit them. Despite the fact that inflation has reached its highest level in decades, some people in the UK are unaware of its impact on their finances. More than half of all cash savers (52 percent) are unsure how inflation will affect the real value of their savings over time. According to new research[1,] one in ten (13%) believe inflation will make them better off, and 13% believe the real value of their savings will remain the same.

This week, Woodward Markwell will be looking at the options available to savers during unprecedented times and the cost to them of not acting when inflation starts to increase.

If you need advice regarding your savings, contact us today otherwise please visit again tomorrow for the next instalment.

Source data:
[1] Opinium survey of 2,001 UK adults in the UK conducted between 4–8 February. The 10.3 million savers refers specifically to Cash ISA savers.